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ANNOUNCEMENTS

Heellenic Fabrics: Announcement

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By implementation of paragraph 4.1.4.2. of ATHEX regulation and the article 10 of L. 3340/2005, HELLENIC FABRICS S.A. announces that, the Ordinary General Shareholders Meeting held on June 18th, 2010, following also its decisions of May 23rd 2008 and May 14th 2009 for a share buy back program according to the article 16 of L. 2190/1920 for distribution to the companys or its affiliate companies staff and consultants, as defined by article 42e par. 5 of L. 2190/1920, unanimously decided to extend the time period of the share buy back program as well as of their distribution, with the following terms: 

1. Maximum number of shares to be bought must not exceed the percentage of 5% of the companys shares, i.e. 684,611 shares, including the total number of shares already purchased following the Ordinary General Shareholders meetings of May 23rd, 2008 and May 14th, 2009. 

2. Transaction period, for which this approval is administered, is set to 24 months as from today. 

3. Purchase value of each share must neither be less than € 0.10, nor more than € 5.00.
Distribution is to be performed under the provision and responsibility of the Board of Directors, based on the terms decided by the General Meeting. 

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